Brexit MEP: Single Euro Currency Is 'Financial Dictatorship'

STRASBOURG, France — Britain leaving the European Union will force a realignment of the bloc which would be akin to a dam bursting, potentially releasing member states from “financial dictatorship”, a Brexit Party MEP has said.

Speaking just minutes before the group of Brexiteers launched their protest against continued attempts to normalise the idea of the European Union being a country in its own right by turning their backs to the playing of the bloc’s anthem, West Midlands representative Andrew England Kerr pointed to the coming storm Europe will face without British money.

Discussing the economic problems faced by Europe’s bloated spending propped up by net contributors like the United Kingdom, England Kerr told Breitbart London: “We’re the biggest party in Europe, and we’re the ones wanting to leave. That sums up the problems they’ve got!”

Concern about the Euro currency has long been a feature of British Euroscepticism. While the Sterling was never replaced with the single Euro currency, it was a long time ambition of the British political class which put the country on the road to adopting European money in the 1990s.

A recent report by the German Centre for European Policy (CEP) laid bare the enormous advantage Germany, in particular, has enjoyed through the Euro, while many other European nations including high-performing France have suffered. The study claimed Germany had enjoyed €1.9 trillion in additional prosperity from effectively controlling the currency used for business across most of the continent, while Italy at the other end of the scale had suffered an effective €4.3 trillion loss.

But Brexit could help set in motion events that would release southern economies from their disadvantageous bonds to Germany, England Kerr said, remarking that the arrangement has allowed Germany to run Europe for its own benefit through the Euro as a “financial dictatorship”. He told Breitbart London that Brexit would “give countries like Spain, Portugal, and Greece the opportunity to reinvigorate their economies”.

“The Euro is such a straight jacket to them, we are condemning vast numbers of the young in those countries to mass unemployment in the long term, and that’s just morally unacceptable in this world. We know if they hadn’t been in the Euro they could have gone back to basics, devalued, reinvigorated their economy but they can’t do it here.

“Its a form of financial dictatorship, a recipe for disaster from the very beginning. You can’t ignore basic economics — you can cover it up, but in the end, you’ll end up with ten times the problem.”